Australian inflation rate in 1974: 15.83%

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Australian Inflation Rate, 1974-2018 (AU$1)

The consumer price index (CPI) in 1974 was 13.9. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics consumer price index, the dollar experienced an average inflation rate of 4.84% per year. Prices in 2018 are 701.2% higher than prices in 1974.

In other words, AU$1 in the year 1974 is equivalent in purchasing power to AU$8.01 in 2018, a difference of AU$7.01 over 44 years.

The current inflation rate in 2018 is 1.80%1. If this number holds, AU$1 today will be equivalent to AU$1.02 next year.

Inflation from 1974 to 2018
Cumulative price change 701.22%
Average inflation rate 4.84%
Price difference (AU$1 base) AU$7.01
CPI in 1974 13.9
CPI in 2018 111.3692


AUD inflation chart from 1922 to 2017


How to calculate the inflation rate for AU$1 since 1974

Start with the inflation rate formula:

CPI in 2018 / CPI in 1974 * 1974 AUD value = 2018 AUD value

Then plug in historical CPI values. The Australian CPI was 13.9 in the year 1974 and 111.3692 in 2018:

111.3692 / 13.9 * AU$1 = AU$8.01

AU$1 in 1974 has the same "purchasing power" as AU$8.01 in 2018.


News headlines from 1974

Politics and news often influence economic performance. Here's what was happening at the time:

  • Ayatollah Khomeini, appeals for an Islamic republic of Iran.
  • The 1,000th victim of the Northern Ireland conflict between republican and loyalist paramilitaries is taken.
  • President Richard Nixon announces his resignation.

Inflation Data Source

Raw data for these calculations comes from the government of Australia's annual (CPI) as provided by the Reserve Bank of Australia. The consumer price index was established in 1922 and is tracked by Australian Bureau of Statistics (ABS).

You may use the following MLA citation for this page: “Inflation Rate in 1974 | Australia Inflation Calculator.” FinanceRef Inflation Calculator, Alioth Finance, 25 Apr. 2018, http://www.in2013dollars.com/Australia-inflation-rate-in-1974.


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